Harper wrote the expression 15-6+7 to represent "15 minus the sum of 6 and 7". Evaluate 15 - 6 + 7 and then exposing why Harper'
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The monthly amortization is P23,511.63
<h2>Compound interest</h2>The formula for calculating the compound interest is expressed as:
whrere:
- P is the principal = P700,000
- r is the rate = 12% = 0.12
- t is the time = 4 years
- n = 12
Substitute the parameters
Calculate the monthly payment:
Monthly payment =
Hence the monthly amortization is P23,511.63
Learn more on compound interest here: brainly.com/question/24924853